Finland’s Fortum has acquired a 49 per cent stake in Ishavskraft, an electric service provider located in northern Norway with some 30 000 customers. Ishavskraft had 1999 sales of more than 800 GWh worth NOK 165 million ($18.9 million). The news follows a recent decision by Fortum to divest its power generation assets in the UK and Ireland as part of a strategic refocussing on northern Europe. Groupe BNP Paribas are advisors for the sale.
